Sell gear to fund home repairs/improvements?

[TMeury]

Friends.

Who knew owning a home had some many pitfalls!? I've got some hefty bills coming my way in a hurry and I'm curious how you esteemed folks would approach this.
Need new septic system, fence, need some GC work done on the front of the house, and who knows what else will spring up.
Doing these things will definitely help the value of the home though.

It seems the market for high end gear has leveled off quite a bit from the pandemic madness, so I am a bit hesitant to let my vintage PRS go. Hell, if they go at all!

That said, selling would provide a short term solution. I'd be out potential long term investment pieces, but do I really need this many guitars? I sound like my wife now.

I know we all have times where we want to sell everything and simplify, but I know the regret with some of these guitars will be huge.

Anyway, question is: do I sell gear to fund home repairs and maintenance OR go the 0% credit card route and hope to pay off the balance in the allotted time?

 

[veinbuster]

I would seriously consider turning a couple of things into cash. Not my favourites, which might be the most valuable. Instead some of the ones I just don’t play much and probably wouldn’t miss.

 

[Tony M.]

I once had a mid '60s ES 355 TDC SV and a Hiwatt DR 103.
I sold them and got a whole bunch of money.
Not a day goes by without a "What was I thinking?" moment.

I would go the 0% route and if you don't pay it off in time, consider selling the gear.

 

[sergiodeblanc]

Always buy, never sell.

 

[veinbuster]

Always buy, never sell.

Does that include red HB with moons?

 

[sergiodeblanc]

Does that include red HB with moons?

Depends on if it’s a spare or an extra.

 

[Lewguitar]

I turn my guitars and gear into cash whenever I need to.

Hang onto what you love and feel connected to, and let go of some of the rest that you don't play.

Pay off those credit cards.

 

[bodia]

I sold a whole bunch of stuff back in 2019 in order to allow the Mrs to retire 3 years earlier than we had originally planned. Used that to pay some stuff of so we could live the same lifestyle without two paychecks. I don't regret it, at all. Having her happy, and not having to hear about how miserable she was at work is priceless.

 

[TMeury]

Hahaha! This is going as expected. Solid advice in both directions.

Maybe a combo is in order. Sell some and finance the remainder. Best of both worlds.

 

[Birdsofprey]

Family/house first everything else is just dressing. Your thinking isn’t sacrifice it’s smart!

 

[Greywolf]

unless it is one you can't part with , fix the house

 

[Juan Luis Vidal]

I have never been able to sell any guitar that stood with me for more than 6 months...but house and family should go first, in my opinion. If there is no other way, just sell. Who knows, you can even re-buy them in the future.

 

[markd21]

I had to sell off all my gear of value when my second wife walked out and ghosted me. I could no longer afford to live without the matching second income. It sucked for a long time, but I got back on my feet and am living a better life now. I enjoy what I have, which is mostly modified SEs. All my amps are gone, but I'm happy with my Helix. My studio is MUCH smaller and WAY less stocked with outboard gear. But, that's ok because I can still do what I enjoy and I don't feel a loss with the lost gear.

 

[DISTORT6]

I have never been able to sell any guitar that stood with me for more than 6 months...but house and family should go first, in my opinion. If there is no other way, just sell. Who knows, you can even re-buy them in the future.

Sounds like you’re saying sell the family and house first…hmmm
Now that’s another option.

 

[Juan Luis Vidal]

Sounds like you’re saying sell the family and house first…hmmm
Now that’s another option.

lol, not sure if it has been a mistake...

 

[jak3af3r]

I volunteered to do the work on my house where I could. It was a fairly large task but it was cheaper to buy nice tools and materials. Then you know how it was done and how to undo it of you need to. And with the leftover tools, materials, and skills you can build something useful like shelves for pedals or cable management or speaker cabinets.

 

[Bogner]

Whack The Credit Card And Keep Your Gear. Find Another 0% Card And Balance Transfer If You Have To Down The Road. Don't Give Up Your Gear. CC Companies Milk Their Users So Anytime You Can Go With 0% I Say Do It.

 

[loocnmad]

Credit card juggling will lower your credit score. Not to mention they should NEVER be used for financing a large bill. One late payment and you're screwed.

If it's that important you're far better off getting a home improvement loan from a bank. Depending on how long you've been there you could have the option of borrowing against your equity.

Now this next bit is very painful, especially coming from me. If you're not a gigging musician, your instruments are nothing more than luxury toys. We like to tell ourselves they're "investments" but there's little difference between all the cases I have stashed away in closets and all the Transformers I had as a kid. Your home is a bigger and more important investment, anyway, and you'll wind up with far more ROI in the end by keeping the house in order.

 

[nac]

This is a personal decision but for me, my gear is a luxury, not a need. I don't make my living playing guitar (obviously ) so if push comes to shove, the gear is gone.

Whether or not to finance your upcoming projects seems like it should be a larger discussion. I'd ask myself these types of questions - If you finance them how long would it be for? At what interest rate? Can you spread out the projects and tackle them as you have the funds or are they something that has to be done now?

Gear is gear. There is always a 'great' guitar out there. Financing can work or it can bury you in a hole for years. Be smart, not sentimental about it.

I wish you the best of luck on your decision!

 

[CandidPicker]

Better to find some quotes on your home improvement projects first...septic systems are notorious budget breakers, > $35K, which includes new tank, leaching field, house-to-tank pipes, etc.

When I thought to install a basement music room in 2014, I sold one of my Private Stocks and used some savings meant for retirement. Moot point now, the house was sold in 2018, and parental unit took in the net profit. (Yup, I lived with one of my elderly parents some years ago...).

You likely find out than home improvements will increase the value of your house, and the house taxes will increase accordingly. Be prepared for sticker shock once improvements are finished and the tax bill arrives.

Just some advice from a guy who bought sold for various reasons...buy what you like that is the most cost-effective, that sounds, plays and feels great in your hands. While owning high-end gear may be great for your ego, it doesn't mean anything if you don't have the chops to justify owning that gear. Reason I say this is because some years ago when just beginning to play in public, I got a lot of people questioning me why the expensive gear? I almost needed to defend myself and realized my chops at the time didn't justify owning the high-end gear.

Nowadays, I own one core non-10, and 3 SE's. No expensive pant-waffling amp stack, just a Fractal FM9 and 2 FRFRs. Most cost-effective, because my gear produces the sounds and tones I desire with almost unlimited variety from my FM9. (Imagine owning 250 real amps, 350 effects, and over 400 speaker cabs IRL. Where would you store it all?)

That's why my tube amps and high-end gear were sold, for most cost-effective and to provide resources for future projects.